Feb. 22, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. I reside in MN and currently invest in the GBTC- Grayscale Trust- a small portion of my balanced portfolio in 2022. US citizens deserve a credible means to invest in BTC at SPOT that is easy to use and within the current financial system- such as their 401K or IRA brokerage account. Approval of this ETF will allow for such an opportunity. The US and US citizens are falling behind. Currently, US citizens must consider investment in the Canadian approved spot ETF or ETF's already approved in Europe- this is not easy or appropriate for many. The United States is falling behind by not approving a spot ETF. Furthermore the approval of futures ETF products have paved the way. The Spot ETF is a product that could benefit many American citizens by providing a relatively easy on-ramp to owning the BTC asset with a small portion of their portfolio. This could generate significant wealth and establish significant future tax revenue for the US government- win - win. Continuing to deny the credible spot ETF requests will put both the US citizen and the US government further behind other countries which enable this critical investment option. As a satisfied, customer of the GBTC instrument, please consider their proposal seriously and provide a specific plan of action if you find any reasons to hold on approval. Sincerely, Jeff Bird